taking benefit of exemption limit of 1.5 crore

[MEHUL ASHAR]

Respected Sir,

                         One of my clients has taken excise registration recently now as he is paying duty on clearance of goods,but from 01-04-14 he wants to take the benefit of 1.5 crore exemption limit can he take if yes what is the procedure let me know please.

AI Summary

SSI exemption option requires formal intimation to the range officer and remains irrevocable for the financial year.
Eligibility for the SSI exemption requires SSI registration, dealing in reserved goods, or remaining within the SSI investment threshold; relevant notifications and circulars apply. A dealer who elects to pay duty despite entitlement under the SSI notification must intimate that intention under para 2(I); the election is irrevocable for the rest of the financial year. To claim the first-clearance exemption from the start of the financial year, the assessee must notify the range officer of the intention to avail the SSI exemption for that clearance.